💨 Abstract

Data center operator Applied Digital posted a smaller-than-expected loss for Q2, driven by increased demand for high-performance data center infrastructure and cloud services. The company's stock rose after a $5 billion investment from Australia's Macquarie for AI data centers and a 15% stake in high-performance computing business. The funding will help repay debt and recover equity investments in facilities.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖